$OMC Oil Marketing Companies (OMC): 10% YoY decline in Nov-2025 sales – By JS Research
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- OMC sales volume clocked in at 1.4mn tons, down 10% on a YoY basis during Nov-2025. On a product-wise basis, Motor Spirit (MS) volume dropped 9% YoY, Hi-Speed Diesel (HSD) volume decreased 13% YoY, whereas Furnace Oil (FO) sales dropped 32% YoY during the month. Cumulatively, OMC sales volumes recorded a 1% YoY growth during 5MFY26.
- PSO’s market share has stabilized recently, rising to 45% in Nov-2025, its highest level in nearly a year versus the 41–43% range over the past 10 months.
- We estimate PDL collection for 5MFY26 to be around Rs642bn. We believe that with elevated rates of levy for MS & HSD, the annual target is likely to be achieved at sticky volumes.